Solar in Electricity’s Birthplace

September 26, 2012

New York City has been called the birthplace of electricity itself. In 1882, Edison’s Pearl Street Station in lower Manhattan became the country’s first central power plant, bringing 800 incandescent light bulbs to life. Today, New York City draws its power from a mix of far-flung fossil fuel, nuclear, and renewable (primarily hydroelectric) energy resources. But, this could change as the state’s legislature passes a round of incentives aimed at encouraging new solar PV installations in the state. Earlier this summer, Governor Andrew M. Cuomo announced the NY-Sun initiative, which will give out $107 million in incentives for new solar power installations. Also in August, the state passed multiple bills aimed at making solar power more affordable for individual homeowners. The new legislation included statewide tax credits for solar equipment leases and power purchase agreements, statewide sales tax exemptions for commercial solar equipment, and an extension for the real property tax abatement in NYC for solar installations. Scientific American Article